INNOVATION FUND: DESIGN INNOVATION SEED FUND (DISF)

Please note that applications are currently closed for the DISF.

DISF CRITERIA – THIS FUND IS OPEN TO:

Western Cape based early-stage small and medium enterprises/entrepreneurs/researchers

Students at Western Cape tertiary institutions as long as the institution does not already have an Intellectual Property claim to the product/service. Please consult institution’s Intellectual Property policy

Pre-revenue businesses in incubation or entering incubation OR

Existing SMEs with new products/innovation that is still pre-revenue.

South African citizens with valid South African Identity Documents or legal entities controlled by South African citizens with valid South African Identity Documents or permanent residents who hold a valid RSA ID document.

SECTOR FOCUS 2018/2019:

Agriprocessing

Biotechnology

Health

Manufacturing

Water Conservation

Alternative Building Materials

Wild Card* (*projects outside these sectors can be considered)

APPLICANTS NEED TO DEMONSTRATE SUFFICIENT EVIDENCE OF:

Innovation in design, technology and/or the application thereof

Market appetite or sufficient evidence of market potential

Competitive advantage

Management team capability to drive the process.

THE BUSINESS/PRODUCT/IDEA NEEDS TO:

Have a knowledge focus

Include technological innovation/design

Should not easily be able to raise funds from traditional banks or funding agencies because of the inherent risks involved

Strong preference will be given to businesses that have at least 25% black ownership and/or have good job creation potential.

The rules of the fund are as follows:

ALL APPLICATIONS MUST:

Declare all IP rights on the innovation, the implications thereof and/or show freedom to operate

Be tax compliant

Be prepared to match 20% of the contribution of the Fund through cash contributions

Show the design development process and how this has been informed by customer needs

Be prepared to sign a contract and report on progress and impact to the Fund administrators on a quarterly basis during and for a defined period after the project completion.

IN ADDITION:

Only fully completed applications will be considered

No company or individual can access more than R650 000 of the fund

Fund allocations will be made on an activity/intervention basis linked to co-developed delivery milestones

All IP rights remain with the applicant

TIA retains the right of first refusal to support further technological development, as informed by the outcomes of the DISF seed funding, and TIA’s own criteria

No staff member or associate of the CDI or TIA may apply

CDI funding decision is final and no correspondence will be entered into

FUND APPLICATION PROCESS

“We wanted to take this to the next level, there was a real problem that we could solve. The DISF gave us a bit of breathing room to work on a creative design-driven project that has resulted in a project we are starting to use every day now.” – Justin Coetzee, GoMetro

FIND OUT WHAT SOME OF OUR PREVIOUS DISF RECIPIENTS HAVE TO SAY

“As entrepreneurs we speak the language of ideation to commercialisation as part of our pitches without seeing how the dots connect. The DISF and the process followed helps one to focus and unpack this.” – Dr Carol Thomas, iMobiMama